Outline the differences between commercial banks and central banks
Instructions to Candidates: Answer the questions below.
1. Outline the differences between commercial banks and central banks. [33.33 marks]
2. Define what is meant by the term ‘shadow banking’ and describe two major shadow banking products. [33.33 marks]
3. Will cryptocurrencies such as Bitcoin ever replace Fiat currencies? [33.33 marks]
INSTRUCTIONS TO CANDIDATES:
1. A template answer sheet has been provided on the KEATS page, you should complete the first page ‘cover sheet’ and then type your answers below. Make sure you clearly indicate the questions you are answering.
2. If you have a PAA cover sheet, you should include this in addition to the template answer sheet
3. Save your work regularly, at least every 15 minutes.
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